Students will learn the basics of continuous and discontinuous dynamic models in economics. Mathematical models are used to create selected differential and differential equations of first and second order. The aim of the course is to introduce continuous and discrete economic dynamic systems with an emphasis on mathematical formulation, economic interpretation and verification of results. Mathematical theory is illustrated by examples of dynamic systems in economic theory.
1. Introduction to the theory of dynamic systems and dynamic models in economics - basic concepts.
2. Discrete Dynamic Systems - Differential Equations
3. Mathematical Modeling of Dynamic Balance - Discrete Dynamic Spider Model
4. Discrete dynamic systems - modeling of static aggregate macroeconomic equilibrium
5. Discrete Dynamic Systems - Inflation Dynamics x Unemployment
6. Continuous Dynamic Systems of Repetition and Deepening of Basic Concepts of Differential Equations Theory
7. Mathematical Modeling of Dynamic Balance - Continuous Dynamic Spider Model
8. Continuous dynamic systems - Walras's model of general equilibrium
9. Continuous Dynamic Systems - Solow's Growth Model
10. Continuous Dynamic Systems - Philips Model for a Closed Economy
11. Business cycle models
12. Repetition. Reserve.